The Anthracite coal market has continued to witness almost no demand.
Indian buyers’ focus on alternate fuels has eroded import tendency among them. Imports during Aug’16 were the lowest in the current fiscal. In the fifth month of FY17, a very lean quantity of 46,500 MT was imported into the country, according to the data compiled by CoalMint Research. The importers were: JSW Steel and Indian Metal and Ferro Alloys Limited.
Source: CoalMint Research
On the pricing side, import offers have undergone another upward drift after the increment last week. Gradual rise in demand in Russia has exerted upward momentum to the import offers. In Russia, domestic demand for the coal variant is rising as the peak demand phase in the winter season is approaching.
Of late, import offers of Anthracite coal has risen by around USD 4/MT to approximately USD 116/MT CFR India.
Source: Market Participants
Apparently, the rise in the import offers will mean almost nothing to Indian buyers, who have turned their backs towards the Anthracite coal market.
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